FinTrust Investment Advisory Services LLC Takes Position in Medtronic PLC (MDT)

FinTrust Investment Advisory Services LLC acquired a new stake in shares of Medtronic PLC (NYSE:MDT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,039 shares of the medical technology company’s stock, valued at approximately $314,000.

Several other hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust lifted its stake in Medtronic by 22.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after purchasing an additional 210 shares in the last quarter. BDO Wealth Advisors LLC purchased a new stake in Medtronic in the 2nd quarter worth $103,000. Motco lifted its stake in Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after purchasing an additional 290 shares in the last quarter. Finally, Israel Discount Bank of New York purchased a new stake in Medtronic in the 1st quarter worth $117,000. 81.85% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,407 shares of company stock worth $13,974,223. Insiders own 0.31% of the company’s stock.

Shares of Medtronic PLC (MDT) traded down $0.93 during mid-day trading on Friday, reaching $80.57. 5,497,500 shares of the company’s stock were exchanged, compared to its average volume of 4,962,533. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05. The company has a market cap of $110,310.08, a P/E ratio of 17.57, a P/E/G ratio of 2.25 and a beta of 1.00. Medtronic PLC has a twelve month low of $69.35 and a twelve month high of $89.72.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the prior year, the firm earned $1.12 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. analysts expect that Medtronic PLC will post 4.77 earnings per share for the current fiscal year.

Several analysts have commented on MDT shares. BidaskClub upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Royal Bank Of Canada restated a “buy” rating and set a $90.00 target price on shares of Medtronic in a research report on Monday, August 21st. Oppenheimer restated a “buy” rating and set a $92.00 target price on shares of Medtronic in a research report on Tuesday, August 22nd. Cowen set a $95.00 target price on shares of Medtronic and gave the company a “buy” rating in a research report on Tuesday, August 22nd. Finally, BMO Capital Markets restated an “outperform” rating and set a $92.00 target price (down from $94.00) on shares of Medtronic in a research report on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $88.02.

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About Medtronic

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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